Here’s Why Archer Aviation Inc. (ACHR) Is Skyrocketing

We recently compiled a list of the Why These 24 Stocks Are Skyrocketing. In this article, we are going to take a look at where Archer Aviation Inc. (NYSE:ACHR) stands against the other stocks.

One of the strongest stock market anomalies is the momentum effect, which is the tendency of recent past winners to outperform the recent past losers. That’s why we decided to take a look at some of the recent past winners in this article. These 24 companies, predominantly involved in the quantum computing, biotechnology, and technology sectors, have performed significantly well in the final quarter of 2024, registering spectacular returns over the 3 months.

That said, let’s take a look at the top 24 stocks that have skyrocketed and pose a solid growth opportunity in the coming year. We will also explore how well the stocks have performed throughout the year and what they have in store for 2025.

To come up with 24 names, we considered only the stocks that have at least $2 billion in market capitalization and have registered commendable returns in the fourth quarter of 2024.

A technician assembling an electric aircraft, highlighting the company’s manufacturing capabilities.

Archer Aviation Inc. (NYSE:ACHR)

Q4 Returns as of December 31, 2024: 222%

Archer Aviation Inc (NYSE:ACHR) is a rapidly growing aircraft company with a mission to develop high-performing vertical take-off and landing aircraft in urban networks. In the fourth quarter of 2024, ACHR’s stock price returned 221.8%; exhibiting remarkable growth.

The stock is expected to skyrocket and we say that because of its roadmap to the commercial deployment of its aircraft in 2025. Over the past few months, the company has accelerated its certification processes and signed partnerships, positioning it as an emerging leader in aircraft technology.

On December 18, 2024, Analyst firm Cantor Fitzgerald increased its price target for ACHR to $13 from $10. Similarly, Street’s median price target of $11 pointed to an upside of 15% from current levels as of January 2.

Overall ACHR ranks 14th on our list of the stocks that are skyrocketing right now. While we acknowledge the potential of ACHR as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ACHR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. This article is originally published at Insider Monkey.